ING Groep NV Lowers Position in Textron Inc. (NYSE:TXT)

ING Groep NV trimmed its position in Textron Inc. (NYSE:TXT) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,058 shares of the aerospace company’s stock after selling 603 shares during the period. ING Groep NV’s holdings in Textron were worth $2,220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TXT. KBC Group NV purchased a new position in Textron in the 3rd quarter worth approximately $1,797,000. Sumitomo Mitsui Trust Group Inc. raised its position in Textron by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 471,039 shares of the aerospace company’s stock worth $41,725,000 after acquiring an additional 4,327 shares during the period. GSA Capital Partners LLP lifted its position in Textron by 144.3% during the third quarter. GSA Capital Partners LLP now owns 13,862 shares of the aerospace company’s stock valued at $1,228,000 after purchasing an additional 8,188 shares in the last quarter. Apollon Wealth Management LLC lifted its position in shares of Textron by 4.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock valued at $235,000 after buying an additional 125 shares in the last quarter. Finally, Versor Investments LP bought a new position in shares of Textron in the third quarter worth approximately $655,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Trading Down 1.4 %

TXT opened at $84.91 on Friday. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33. The business has a fifty day simple moving average of $86.39 and a 200-day simple moving average of $87.31. The firm has a market cap of $15.75 billion, a P/E ratio of 18.66, a P/E/G ratio of 1.58 and a beta of 1.24. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the business earned $1.49 earnings per share. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts expect that Textron Inc. will post 5.52 earnings per share for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s dividend payout ratio is currently 1.76%.

Analysts Set New Price Targets

Several research analysts have weighed in on TXT shares. Robert W. Baird dropped their price target on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and reduced their price target for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. Citigroup lifted their target price on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Finally, StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.